Oak Hill Commits $250M to Omni Fiber to Develop Broadband Entry in Underserved Cities Throughout the Midwest

Amora R Jelo

As the bulk investor in a brand new fiber-to-the-premises Web supplier, Oak Hill will companion with Omni Fiber to speed up the deployment of fiber-based broadband networks within the Midwest.

CINCINNATI and MENLO PARK, Calif., July 22, 2022 /PRNewswire/ — Oak Hill Capital (“Oak Hill“) right this moment introduced that it fashioned a brand new fiber-to-the-premises (FTTP) supplier, Omni Fiber (“Omni” or the “Firm”), to deliver to market a brand new choice for high-speed Web service in small and mid-sized markets within the Midwest which have traditionally been underserved by the massive cellphone and cable corporations.

Oak Hill’s $250 million dedication to Omni Fiber out of its newest flagship fund, Oak Hill Capital Companions VI, will fund new community development to deliver state-of-the-art fiber Web, TV, and cellphone companies to houses and companies in communities throughout the Midwest, with preliminary tasks within the states of Ohio, Pennsylvania, and Michigan.

“We’re thrilled to companion with Oak Hill and are excited to offer high-quality Web entry choices to small and medium communities throughout the Midwest,” stated Darrick Zucco, Omni Fiber CEO. “Oak Hill’s funding will spur our development to assist bridge the digital divide and set up aggressive selection by offering lots of of hundreds of households entry to our future-proof, 100% fiber-optic community. We stay up for establishing and sustaining wonderful service high quality as we help our new prospects and communities for years to come back.”

Omni Fiber will provide reasonably priced, symmetrical speeds of as much as 2 Gbps to houses and companies in small and mid-sized cities within the Midwest the place present high-speed choices are restricted. Omni will ship what prospects anticipate from their Web service supplier: quick Web speeds, reliability, full in-home protection, and best-in-class native customer support. Omni is not going to require contracts for residential prospects and guarantees no hidden charges, no knowledge caps, no set up charges, and a 30-day money-back assure. With Oak Hill’s funding within the Firm, Omni is not going to must depend on grants or subsidies from federal, state, or native governments to construct its community.

Oak Hill is an skilled investor within the FTTP area, and Omni Fiber’s govt group has over 80 years of mixed expertise in constructing and rising fiber networks. Oak Hill’s present broadband investments that allow elevated fiber entry throughout the U.S. embrace MetroNet, one of many nation’s largest independently owned, one hundred pc fiber optic community suppliers; Vexus Fiber, an increasing supplier in Texas, New Mexico and Louisiana; GoNetspeed within the Northeast; Race Communications in California; and Greenlight Networks in upstate New York.

“We consider that dependable, high-speed entry to the Web represents a elementary catalyst for financial development and equal alternative for all People, from small cities to huge cities,” stated Scott Baker, Associate at Oak Hill. “We now have loved robust relationships with Omni’s founding govt group – Darrick Zucco, Steve Gable, Brian Ross and Andres Tovar – for a few years. We’re excited to formally launch our new partnership with this excellent group because the Firm builds and introduces its fiber community throughout the Midwest.”

About Oak Hill
Oak Hill is a longstanding non-public fairness agency targeted on the North America middle-market. Oak Hill applies a specialised, theme-based strategy to investing within the following devoted business sectors: Media & Communications, Industrials, Providers, and Shopper. The Agency implements a extremely systematic strategy to theme growth, proactive origination, and worth creation in partnership with administration to construct franchises of lasting worth. Since 1986, Oak Hill and its predecessors have raised roughly $20 billion of preliminary capital commitments and co-investments, invested in roughly 100 corporations, and accomplished greater than 300 add-on acquisitions representing an combination enterprise worth at acquisition of over $60 billion. For extra info, please go to www.oakhill.com.

About Omni Fiber
Based in 2022, Ohio-based Omni Fiber offers 100% fiber-optic broadband Web, TV and cellphone companies to residential and enterprise prospects within the Midwestern United States. Omni Fiber presents symmetrical speeds of as much as 2 Gbps, no-hidden charges, no knowledge caps, Premium Wi-Fi included, native customer support, and aggressive pricing. For extra info, please go to www.omnifiber.com.

Oak Hill Media Contact:
Daybreak Dover
[email protected]

Omni Fiber Media Contact:
John Barnes
[email protected] 

SOURCE Oak Hill Capital Companions

https://www.prnewswire.com/news-releases/oak-hill-commits-250m-to-omni-fiber-to-expand-broadband-access-in-underserved-towns-across-the-midwest-301591566.html

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